Cadrenal Therapeutics (NASDAQ:CVKD) Announces Earnings Results

Cadrenal Therapeutics (NASDAQ:CVKD) released its quarterly earnings data on Tuesday. The company reported ($1.41) earnings per share for the quarter, missing the consensus estimate of ($1.21) by ($0.20), FiscalAI reports.

Cadrenal Therapeutics Stock Down 14.8%

Shares of CVKD stock opened at $4.25 on Tuesday. The business’s fifty day moving average is $6.83 and its 200 day moving average is $9.56. The stock has a market cap of $9.95 million, a price-to-earnings ratio of -0.53 and a beta of 1.03. Cadrenal Therapeutics has a twelve month low of $4.21 and a twelve month high of $19.03.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cadrenal Therapeutics in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cadrenal Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $32.00.

Institutional Trading of Cadrenal Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. DRW Securities LLC bought a new position in shares of Cadrenal Therapeutics in the 4th quarter worth about $171,000. Geode Capital Management LLC boosted its stake in Cadrenal Therapeutics by 14.3% during the fourth quarter. Geode Capital Management LLC now owns 14,528 shares of the company’s stock worth $98,000 after acquiring an additional 1,818 shares in the last quarter. Citadel Advisors LLC purchased a new stake in Cadrenal Therapeutics in the third quarter worth about $274,000. Finally, JPMorgan Chase & Co. purchased a new stake in Cadrenal Therapeutics in the third quarter worth about $103,000. 7.92% of the stock is owned by hedge funds and other institutional investors.

Cadrenal Therapeutics Company Profile

Cadrenal Therapeutics, Inc operates as a clinical development biopharmaceutical company. The company focuses on developing Tecarfarin, a novel oral and reversible anticoagulant to prevent heart attacks, strokes, and deaths due to blood clots in patients with rare cardiovascular conditions requiring chronic anticoagulation, such as patients with left ventricular assist devices, end-stage kidney disease, atrial fibrillation, and thrombotic anti-phospholipid syndrome. Cadrenal Therapeutics, Inc was incorporated in 2022 and is headquartered in Ponte Vedra, Florida.